The offbeat personal finance blog for responsible people.

Save Money: In-School or Going Back

Whether you’re starting college for the first time, or going for a different degree years later, you should look for ways that you can save money during college. College is a great expense and many people incur thousands of dollars of debt in student loans. You shouldn’t add any more debt on top of it. Learn how to manage your money during college, and find ways to cut back on expenses that you don’t really need. It may be a few tight years, but coming out of it with only student loan debt is something that you should be very proud of.

Don’t Eat Out as Much

Most college-aged kids go out to eat far too much. Whether it’s out of convenience, or simply because all of their friends are going, turning down an easy, enjoyable meal is often too much to ask. However, by cutting down on your eating out, you will save tons of money by the time that you finish school. This doesn’t mean that you can never eat out with your friends. Simply come up with a budget of how much you will spend, and then stick to it.

Buy Things Used

You don’t always have to purchase the newest, shiniest gadget that hits the market. Buying things used doesn’t mean that you’re cheap, it means you’re smart. The newest cellphone, or even a new textbook are both unnecessary purchases for a college student trying to save money. You should find the cheapest used textbooks when starting a class. There’s no reason to spend thousands of dollars on book each year. This is an easy, efficient way to save a lot of money during your college years.

Cut Back on Gas Expenses

If you live in the dorm, chances are, you won’t be traveling much off campus. In these instances, consider dumping the car all together. For those that live away from campus, you need something that is very fuel efficient. Moped are great alternatives to cars or walking when traveling around a college campus. They are small and great on gas, making it the perfect vehicle for any college student. You could also eliminate the need for transportation all together by taking your courses online. By earning your university degree online, you will not have to travel to the campus daily, allowing you to save on gas. You can also avoid paying for things like parking, eating out, and relocation if you take this method. Best of all, the curriculum of these online courses are the exact same as it would be on-campus, so you will not miss out on any educational opportunities by staying away from the university.

College is a great time in any person’s life. It’s a time to learn more things and meet people that will be a part of your life for years to come. You’ll get valuable information and make connections that will help push you forward in your industry. Once you leave that comfort, the job market may be tough and things won’t be as easier. The best way to make the transition out of college easier is to not have tons of debt hanging over your head. Learn how to save money now so that you can be less stressed out in the years to come.

Comments

I walked to class a ton to save on gas (and parking) and very rarely ate out unless it was part of my meal plan. You don’t need to live in the nicest apartments in town either. My college town had a ton of luxury college apartments popping up… what a waste while you are in school.

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